The UK announced £4.6 billion ($6.23bn) in fresh lockdown grants to help businesses survive the third national shutdown to curb the spread of Covid-19.
Businesses in the retail, hospitality and leisure sectors will receive a one-off grant worth up to £9,000 after business groups and unions warned that mass job cuts would be inevitable without more help.
The next few weeks will be difficult but the end is in sight.
Finance minister Rishi Sunak said a further £594 million will help other affected businesses survive until the spring, with 600,000 firms set to benefit, as the new strain of the virus presents “a huge challenge”.
"The next few weeks will be difficult but the end is in sight," he said in a video statement on Tuesday.
“This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen."
While the new one-off grants are in addition to existing support measures, such as grants of up to £3,000 for closed businesses, Mr Sunak did not pledge to extend the 100 per cent business rates relief for retail, hospitality and leisure businesses.
The business rates holiday, lower VAT rates and the furlough scheme are all set to end in April at a time when companies may only just be returning to operations.
Tony Danker from the Confederation of British Industry urged the government to extend access to business loan schemes beyond the current March 31 deadline and the furlough scheme beyond the end of April.
"More comprehensive restrictions require a more comprehensive economic response," Mr Danker said.
“Firms must have a clear line of sight and assurance that support will be there for as long as restrictions are in place so that they can stay the course rather than act precipitously."
Mike Cherry from the Federation of Small Businesses said the new tougher lockdown will cause widespread business failure and job losses, with businesses facing mounting bills as the business rates holiday ends.
“Current business support is plainly insufficient," he said.
Prime Minister Boris Johnson announced a new national lockdown on Monday evening, which implemented the strictest measures since March last year and will run until at least the middle of next month.
Non-essential retailers have been forced to shut their shops once again, along with hairdressers, gyms, restaurants and hospitality businesses.
The news was a body blow for businesses already reeling from the effects of the first two lockdowns.
Adam Marshall, director general of the British Chambers of Commerce, said he welcomed the new lockdown grant support, but warned it was "incremental" as billions have already been spent helping good firms to survive this unprecedented crisis and to save jobs.
"Ministers need to set out a clear support package for the whole of 2021 – not just until spring – to help businesses of all shapes and sizes survive this difficult and uncertain year," he said.
Helen Dickinson, chief executive of the British Retail Consortium, said 178,000 retail jobs were lost last year and more than 250,000 staff are on furlough, a number that could rise dramatically this year.
"The consequences of these latest restrictions – with non-essential retail already closed for several weeks – will be severe for many businesses who yet again face losing £2bn per week in sales,” she said.
Ms Dickinson said the government’s Covid-19 testing programme and a rapid introduction of vaccines were key to ending the “cycle of lockdowns,” with retailers offering their resources to help make this happen.
Nurseries, pharmacies and supermarkets will remain open as grocery sales hit a record £11.7 billion in December when many parts of the country were already under tighter restrictions.
Take-home grocery sales rose 11.4 per cent year-on-year over the 12 weeks to December 27, according to market researcher Kantar – a period spanning both the November national lockdown in England and Christmas.
"This year, almost all those meals were eaten at home and retailers stepped up monumentally to meet the surge in demand," said Fraser McKevitt, head of retail and consumer insight at Kantar.
While analysts expect London’s stock market to decline after Monday’s rally, the FTSE 100 was actually up in early morning trading, led by a jump in retail stocks following the record December grocery sales and Mr Sunak’s additional support measures.
The benchmark FTSE 100 index was up 0.13 per cent to 6,580 at 9.33am London time.
However, Naeem Aslam, chief market analyst at Avatrade, said the outlook is bleak for the UK because the “the government has failed terribly in controlling the coronavirus situation”.
“Consumers’ pockets are empty now, mortgage holders are struggling to keep up with their payments, while income has been slashed several times,” said Mr Aslam.
“Mortgage holders are no longer eligible for government support schemes because they used them before. Even during the second lockdown, consumers who utilised the government support schemes the last time were not allowed to use the same facility again. This is going to push the mortgage default rate much higher and much quicker this time.”
Britain's unemployment rate hit 4.9 per cent in the three months to October, with the Office for Budgetary Responsibility (OBR) expecting the level to peak at 9.7 per cent his year. OBR predicts the UK economy will have shrunk by 11.3 per cent in 2020.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
Asian Cup 2019
Quarter-final
UAE v Australia, Friday, 8pm, Hazza bin Zayed Stadium, Al Ain
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
FROM%20THE%20ASHES
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Sholto Byrnes on Myanmar politics
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
THE BIO
Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking
Scoreline
Al Wasl 1 (Caio Canedo 90 1')
Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')
Red cards: Ismail Ahmed (Al Ain) 77'
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
Results:
6.30pm: Maiden | US$45,000 (Dirt) | 1,400 metres
Winner: Tabarak, Royston Ffrench (jockey), Rashed Bouresly (trainer)
7.05pm: Handicap | $175,000 (Turf) | 3,200m
Winner: Dubhe, William Buick, Charlie Appleby
7.40pm: UAE 2000 Guineas Group 3 | $250,000 (D) | 1,600m
Winner: Estihdaaf, Christophe Soumillon, Saeed bin Suroor
8.15pm: Handicap | $135,000 (T) | 1,800m
Winner: Nordic Lights, William Buick, Charlie Appleby
8.50pm: Al Maktoum Challenge Round 2 Group 2 | $450,000 (D) | 1,900m
Winner: North America, Richard Mullen, Satish Seemar
9.25pm: Handicap | $175,000 (T) | 1,200m
Winner: Mazzini, Adrie de Vries, Fawzi Nass
10pm: Handicap | $135,000 (T) | 1,400m.
Winner: Mubtasim, William Buick, Charlie Appleby
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
Ponti
Sharlene Teo, Pan Macmillan
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
AGL AWARDS
Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)
Zayed Sustainability Prize
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now
Rankings
ATP: 1. Novak Djokovic (SRB) 10,955 pts; 2. Rafael Nadal (ESP) 8,320; 3. Alexander Zverev (GER) 6,475 ( 1); 5. Juan Martin Del Potro (ARG) 5,060 ( 1); 6. Kevin Anderson (RSA) 4,845 ( 1); 6. Roger Federer (SUI) 4,600 (-3); 7. Kei Nishikori (JPN) 4,110 ( 2); 8. Dominic Thiem (AUT) 3,960; 9. John Isner (USA) 3,155 ( 1); 10. Marin Cilic (CRO) 3,140 (-3)
WTA: 1. Naomi Osaka (JPN) 7,030 pts ( 3); 2. Petra Kvitova (CZE) 6,290 ( 4); 3. Simona Halep (ROM) 5,582 (-2); 4. Sloane Stephens (USA) 5,307 ( 1); 5. Karolina Pliskova (CZE) 5,100 ( 3); 6. Angelique Kerber (GER) 4,965 (-4); 7. Elina Svitolina (UKR) 4,940; 8. Kiki Bertens (NED) 4,430 ( 1); 9. Caroline Wozniacki (DEN) 3,566 (-6); 10. Aryna Sabalenka (BLR) 3,485 ( 1)
